(CercleFinance.com) – Crédit Agricole announces that following purchases on the market and an operation with a leading financial institution, it has acquired a 9.18% stake in the capital of the Italian bank Bank BPM.
This transaction strengthens the relationship between the two banks, embodied by their consumer credit partnership within the Agos joint venture. The group adds that it is willing to broaden the scope of strategic partnerships with Banco BPM.
Crédit Agricole has not sought authorization from the supervisory authorities to cross the threshold of 10% of the capital of Banco BPM. The transaction should have a negligible impact on the CET1 ratio of the French banking group.
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